“Whatever ‘distressed’ sales are happening are driven by investors wanting a quick exit and not from end-users,” said Chandrakant Whabi, CEO at Acrohouse Properties. “Even then their asking prices have not come down by more than 5 to 7 per cent from what these [completed] properties were being quoted at the market’s peak in early 2014."

“A 5-7 per cent drop in asking prices does not constitute a sharp correction for the overall market to be concerned about."